CPEC intended to rapidly upgrade Pakistan’s required infrastructure and strengthen its economy: FIEDMC chief

Islamabad: Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC) Mian Kashif Ashfaq has said that the China-Pakistan Economic Corridor (CPEC) was intended to rapidly upgrade Pakistan’s required infrastructure and strengthen its economy.

Talking to a delegation of investors led by Junaid Jabbar Khan, who called on him, Kashif said CPEC will usher an era of prosperity, progress and development not only in Pakistan but also in the entire region.

He said the construction of modern transportation networks, numerous energy projects and Special Economic Zones (SEZs) would transform the region .

He said it will generate nearly 700000 jobs and add at least 2.5 percent to Pakistan annual growth rate, said a news release.

He said state-of-the-art Allama Iqbal Industrial city, a special economic zone under CPEC project was being developed on fast track basis at Sahianwala interchange on Faisalabad-Pindi Bhattisn motorway which will cater the all needs of investors for setting up their plants well on time.

Mian Kashif Ashfaq said Prime Minister Imran Khan is taking personal interest for timely execution of this project and had already issued express directions to all concerned departments for completion of new 500 kw grid station and laying of sui gas distribution station.

He said CPEC was not a game changer but in fact a fate changer for Pakistan and promised prosperity of three billions people of this region.

He said Federal minister for planning and development Asad Umar during a meeting a couple of days ago “informed us that 17 projects of CPEC had so far been completed at a cost of US $13 billion while projects worth US $12 billion in final stage of completion.”

He said minister further disclosed that an inflow of $25 billion has not only created thousands of new jobs but also helped increase foreign exchange reserves while another $28 billion investment is in pipeline.